Automation software startup Ada raises $14.2 Million in Series A Funding to accelerate the expansion of its AI-powered customer service platform into new markets
Ada, the Toronto, Canada-based customer support automation software that enables companies to easily leverage machine learning to provide instant answers to their questions in chat, has secured raised $14.2 (C$19 million) in Series A funding. The latest round was led by FirstMark Capital with participation from Leaders Fund and Burst Capital, as well as returning investors Bessemer, Version One, and computer scientist, Barney Pell.
Founded in 2016 by David Hariri and Mike Murchison, Ada’s AI-powered platform enables enterprise businesses around the world to automate incredible customer service that saves time, reduces cost, and strengthen their support. Ada enables clients around the world like TELUS, Coinbase, and UpWork to provide their customers with 24/7 personalized support in more than 100 languages.
This fresh capital infusion will enable Ada to rapidly expand into new, global markets and verticals including travel and financial services. Ada will also use the funding for ongoing feature enhancements to its platform to provide a deeper level of personalization and customization; and to provide clients with education and guidance to build, train, and manage Automated Customer Service (ACX) departments. The company also plans to double the size of its team in 2019.
Ada provides AI and chatbot capabilities that are easy to use and setup by support teams to automate interactions with customers. Since the company was founded in 2016, Ada has enabled businesses to automate up to 70% of their customer interactions, and saved millions of dollars for some of the world’s largest organizations, including TELUS, Coinbase, and Upwork. More than 30 million customers worldwide have been helped through Ada-powered automation. Ada’s AI-powered platform makes it simple for non-technical teams to build an automated customer service chatbot that saves time, reduces costs, and improves the customer experience. The company helps businesses to be more productive by eliminating repetitive tasks such as: tedious phone calls, emails, and live chats
“Ada’s accessible and scalable platform lets non-technical customer service teams build and manage AI-powered chatbots to automate interactions. Ada has delivered transformational, measurable results to some of the world’s most innovative brands, helping them shift from a reactive, expensive support strategy to a proactive model that reduces customer effort,” says Matt Turck, Managing Director of FirstMark Capital. “Ada has played an important role in driving automated customer experience, and we’re confident in the team and the platform to surpass their rapid projected growth.”
“This funding is a testament to the results we’ve seen with our platform,” says Mike Murchison, CEO and co-founder of Ada. “With backing from such a diverse group of global and local investors, we can continue transforming the customer experience for businesses and their customers around the world.